Terex (NYSE:TEX) Stock Gets Price Target Reduction from Morgan Stanley

Terex (NYSE:TEX) had its price objective cut by Morgan Stanley from $86.00 to $84.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other research analysts have also recently weighed in on TEX. Wall Street Zen cut Terex from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Citigroup dropped their target price on Terex from $80.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Wells Fargo & Company cut their target price on Terex from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday, October 26th. JPMorgan Chase & Co. reduced their price target on Terex from $68.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, October 8th. Finally, Truist Financial reaffirmed a “buy” rating and set a $87.00 price target (up from $85.00) on shares of Terex in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $74.73.

Terex Price Performance

Shares of NYSE TEX opened at $56.08 on Thursday. The company has a fifty day moving average price of $57.21 and a 200 day moving average price of $61.88. The firm has a market cap of $6.41 billion, a PE ratio of 28.32, a PEG ratio of 1.03 and a beta of 1.47. The company has a current ratio of 1.76, a quick ratio of 0.93 and a debt-to-equity ratio of 0.52. Terex has a 1-year low of $41.70 and a 1-year high of $74.69.

Terex (NYSE:TEX) last released its quarterly earnings results on Wednesday, October 28th. The industrial products company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.08. Terex had a return on equity of 11.79% and a net margin of 2.64%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the business posted $1.50 EPS. The company’s revenue for the quarter was up 58.4% on a year-over-year basis. Research analysts predict that Terex will post 4.93 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Monday, November 9th will be issued a $0.17 dividend. The ex-dividend date is Monday, November 9th. This represents a $0.68 annualized dividend and a dividend yield of 1.2%. Terex’s dividend payout ratio (DPR) is presently 34.34%.

Institutional Trading of Terex

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ancora Advisors LLC bought a new stake in Terex during the second quarter worth about $29,000. Essential Partners LLC increased its position in shares of Terex by 171.2% during the 1st quarter. Essential Partners LLC now owns 564 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 356 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Terex during the 2nd quarter worth approximately $35,000. Optiver Holding B.V. raised its stake in shares of Terex by 67.5% during the 1st quarter. Optiver Holding B.V. now owns 782 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 315 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of Terex in the 1st quarter valued at approximately $47,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

Terex Company Profile

Terex Corporation (NYSE:TEX) is a global manufacturer of equipment used in construction, infrastructure development, utilities, recycling and material processing. The company designs and produces machinery intended to help customers build, maintain and improve transportation networks, commercial sites, utility systems and industrial facilities.

Terex operates primarily through its Aerial Work Platforms and Materials Processing businesses. Its products include aerial lifts, telehandlers and other access equipment, as well as crushing, screening, conveying, washing, recycling and environmental-processing machinery.